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Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be skilled and educated workers who earn decent salaries.
The most well-known current examples of developed countries include the United States, Canada and most of western Europe, including England and France.
By Barry Norman, Investors Trading Academy

published:28 Jul 2015

views:1227

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
Download our App: https://goo.gl/M53roP
We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/dKEM4i
Watch more films on CAPITALISM in our playlist:
http://bit.ly/2dmGWsp
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Music by Kevin MacLeod
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published:24 Nov 2014

views:5462982

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
Download of App: https://goo.gl/E9S7uW
FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look like that was ideally suited to success in modern capitalism?...”
You can read more on this and other topics on our blog TheBookofLife.org at this link: https://goo.gl/StpBHa
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/oeof2J
Watch more films on CAPITALISM in our playlist:
http://bit.ly/TSOLcapitalism
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/RK1kdE
SOCIAL MEDIA
Feel free to follow us at the links below:
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Facebook: https://www.facebook.com/theschooloflifelondon/
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CREDITS
Produced in collaboration with:
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http://www.valeproductions.co.uk #TheSchoolOfLife

published:12 Oct 2015

views:1930101

Difference between Develop and Underdeveloped Economies | Economic problems | Economic System | Mathur Sir Classes
#DifferencebetweenDevelopandUnderdevelopedEconomies #DevelopandUnderdevelopedEconomies #DevelopandUnderdevelopedEconomiesDifference
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difference between developed and underdeveloped economy,difference between developed and underdeveloped economy in hindi,developed and underdeveloped economy,developed and underdeveloped economy in hindi,underdeveloped economy in hindi,underdeveloped economy,characteristics of underdeveloped economy in hindi,main features of underdeveloped economy,india an underdeveloped economy,developed and underdeveloped economies difference,features of underdeveloped economy

published:14 Aug 2018

views:13497

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2019 or gdp growth rate 2019) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2019 Reports and Projections
#fastestgrowingeconomy #growthrate2019 #majoreconomies

published:20 Jan 2019

views:223831

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
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Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
DataTaken from: https://pardee.du.edu/
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published:02 Oct 2018

views:1225285

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
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Script:
The United States is the world’s most prosperous economy. It’s been that way for so long -- over a hundred years -- that we take it for granted.
But how did it happen?
There are many answers, of course. One is that the United States values the free market over government control of the economy.
But here’s a point that is seldom made:
It didn’t begin that way
Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed did the United States start to develop a world beating economy.
Let’s look at three telling examples:
In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.
Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action.
So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him.
But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year. Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.
A similar situation developed in the 1840’s around the telegraph.
The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.
Morse built his first telegraph wire between Washington, D.C. and Baltimore with the help of a government grant. Morse, more of an idealist than businessman, agreed to let the government own and operate the telegraph “in the national interest.”
But the government steadily lost money each month it operated the telegraph. During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise.
In the hands of entrepreneurs, the business took off. Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers and insurance companies saw how they could instantly monitor investments near and far. And dozens of other valuable uses were soon discovered.
As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852. By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean.
Why didn’t the US government profitably use what Morse had invented? Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.
For the complete script, visit https://www.prageru.com/videos/why-america-so-rich

published:26 Jan 2017

views:1436988

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

published:12 Dec 2013

views:622191

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the developed economies and if you take proper account of differences in local prices.
This growing clout is most evident in the market for commodities. The emerging economies burned almost 55 percent of all the oil consumed last year their factories and building sites accounted for 65 percent of global copper consumption and three-quarters of the world's consumption of steel.
Their consumer power has also grown they bought over half the world's motor vehicles last year, including vans and lorries, and took out over three-quarters of new mobile phone subscriptions.
Developing countries were once self-reliant but poor. In recent decades, by contrast, cross-border trade and investment of soared in both directions. Last year they accounted for more than half of the world's exports and more than half of America's overseas sales.
Emerging economies have also become more resilient. They have amassed an enormous cushion of hard currency reserves. That insurance may have helped persuade foreigners to invest in their stock markets which have increased greatly in size despite many ups and downs along the way. The emerging economies cannot match the rich world on every measure. For example Japan Europe and America still have few rivals in the emerging world when it comes to public debt which averages 35% of GDP in emerging economies and over a hundred percent in the rich world.
The economic weight of the emerging world is profound but not unprecedented. In 1820 these countries accounted for about 70 percent of the world economy, before industrial revolutions in Europe and America left them far behind. Their recent progress is not then another revolution but rather a restoration.
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The Economist videos give authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.

published:31 Aug 2011

views:23748

The top ten countries on the prosperity index, determined by rankings across nine key categories: Economic Quality, Natural Environment, Health, Social Capital, Personal Freedom, Safety and Security, Education, Governance, and BusinessEnvironment.
Study by the Legatum Institute:
http://www.prosperity.com/rankings?pinned=&filter=
Subscribe to TDC:
https://www.youtube.com/TheDailyConversation/
Facebook: http://www.facebook.com/thedailyconversation
Video by Bryce Plank and Robin WestMusic:
"Solar Flares" by Silent Partner (YouTube music library)
Script:
These are the top 10 most prosperous countries according to the Legatum Institute whose mission is to promote policies that lift people from poverty to prosperity. The study ranked countries across nine key metrics.
The 10th most prosperous nation is the United Kingdom. It’s strong business economy allowed it to crack the top 5 in that category. It was top 10 in economic quality, natural environment, and education—helped by its vocational training reform efforts that saw it climb from 14th in the world in 2007.
Ninth is Denmark which scores best on Safety and Security as thefts have dropped by 25% over the last decade. Air pollution has fallen by 63% over the same period, improving its Natural Environment ranking by 26 spots. To improve, Denmark should focus on its health system, which isn’t as strong as its Nordic neighbors.
Sweden comes in eighth. It’s 3rd-ranked economy is its best asset. Sweden actually ranked first in overall prosperity from 2010 to 2012, but it’s education and governance scores have slipped slightly since then. It’s still very prosperous and is the third least corrupt country in the whole world.
Seventh is the Netherlands. The Dutch are wealthy, healthy, educated, and served very well by their government. While its Natural Environment ranking is only 36th — the lowest score across any category for any country in this top ten — that’s actually up 37 spots from where it was in 2007.
Australia is sixth. It is the only country in the top 20 to record an absolute decline in prosperity since 2007. Its government has adopted protectionist trade policies that have driven down the quality and diversity of its economy. On the bright side, its Health Care ranking is on the upswing despite rising obesity levels.
In the same spot as last year is Canada at number 5. It is second-best on personal freedom, but its healthcare rank is hurt by rising obesity and diabetes rates. Canada is also top-ten in Governance, Social Capital, and Economic Prosperity.
Fourth is Switzerland, the country with the best education score. It is one of only two Western European countries to see its Economic Quality score improve over the last decade, as the rest of the continent was hit hard by the 2008 global financial crisis.
Finland is the third most prosperous nation. It is top-ranked in governance, second in Natural Environment, and third in Education. Surprisingly its Health score puts it at 21st in that category. The decline of its two main industries, timber and Nokia electronics, has led to a surge in unemployment.
Norway is second for the fourth straight year, a consistent performer across the board that doesn’t rank in the top two in any category, but also doesn’t fall below 13th anywhere either. 93% of Norwegians say they’re satisfied with living standards in the country.
And the most prosperous nation in the world is New Zealand for the fourth year in a row. It is best in Economic Quality thanks to free and open markets. There is clearly a synergistic effect between its top-ranked Social Capital score, its second-ranked Governance mark, and its high level of Personal Freedom.
On the flip side, these are the bottom 10 countries. The prolonged civil war in Syria would likely land it down here, but there hasn’t been enough accurately collected and reported data lately to rank it.
The US is ranked 17th. With the top-ranked business environment — but health and environment rankings down in the 30’s — we really need to get our priorities straight.
And these are the top ten countries for each category: Economic Quality; Business Environment; Governance; Education; Health; Safety and Security; Personal Freedom; Social Capital; and Natural Environment.
I hope this video shed light on the countries we should look to for ideas on creating more prosperity across our own societies.
Our recent examination of the top 10 recycling countries led some of you to express concern about PresidentTrump’s lack of respect for the environment, others were surprised that Japan didn’t make the list, while many of you agreed that Germany belonged in the top spot. Until next time, for TDC, I’m Bryce Plank, thanks for watching.

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
music: Elektronomia - Summersong 2018 [NCSRelease]
🔊 FreeDownload / Stream: http://ncs.io/SummersongID

SS United States

Built at a cost of $79.4 million ($724million in today's dollars) the ship is the largest ocean liner constructed entirely in the U.S. and the fastest ocean liner to cross the Atlantic in either direction. Even in her retirement, she retains the Blue Riband, the accolade given to the passenger liner crossing the Atlantic Ocean in regular service with the highest speed.

Her construction was subsidized by the U.S. government, since she was designed to allow conversion to a troopship should the need arise.United States operated uninterrupted in transatlantic passenger service until 1969. Since 1996 she has been docked at Pier 82 on the Delaware River in Philadelphia.

Design and construction

Inspired by the exemplary service of the British liners RMSQueen Mary and Queen Elizabeth, which transported hundreds of thousands of U.S. troops to Europe during World War II, the U.S. government sponsored the construction of a large and fast merchant vessel that would be capable of transporting large numbers of soldiers. Designed by renowned American naval architect and marine engineer William Francis Gibbs (1886–1967), the liner's construction was a joint effort between the United States Navy and United States Lines. The U.S. government underwrote $50 million of the $78 million construction cost, with the ship's operators, United States Lines, contributing the remaining $28 million. In exchange, the ship was designed to be easily converted in times of war to a troopship with a capacity of 15,000 troops, or to a hospital ship .

United States (album)

United States is the first full length hard rock collaborative album between hard rock guitar virtuoso Paul Gilbert and singer Freddie Nelson. The collaboration has been described as a cross between Queen and Mr. Big.

References

Natural environment

The natural environment encompasses all living and non-living things occurring naturally on Earth or some region thereof. It is an environment that encompasses the interaction of all living species. Climate, weather, and natural resources that affect human survival and economic activity.
The concept of the natural environment can be distinguished by components:

In contrast to the natural environment is the built environment. In such areas where man has fundamentally transformed landscapes such as urban settings and agricultural land conversion, the natural environment is greatly modified and diminished, with a much more simplified human environment largely replacing it. Even events which seem less extreme such as hydroelectric dam construction, or photovoltaic system construction in the desert, the natural environment is substantially altered.

The Economist

The Economist is an English language weekly newspaper owned by the Economist Group and edited in offices based in London. Continuous publication began under founder James Wilson in September 1843. For historical reasons, The Economist refers to itself as a newspaper, but each print edition appears on small glossy paper like a news magazine. In 2006, its average weekly circulation was reported to be 1.5 million, about half of which were sold in the United States.

The publication belongs to The Economist Group. It is 50% owned by private investors and 50% by Exor, the Agnelli holding company, and the Rothschild banking family of England. Exor and the Rothschilds are represented on the Board of Directors. A board of trustees formally appoints the editor, who cannot be removed without its permission. Although The Economist has a global emphasis and scope, about two-thirds of the 75 staff journalists are based in the City of Westminster, London. As of March 2014, the Economist Group declared operating profit of £59m. Previous major shareholders include Pearson PLC.

"The Economist" was watched by 14 million American viewers and received positive reactions from critics.

Plot

Jack Shephard (Matthew Fox) and Miles Straume (Ken Leung) argue about what to do about leader of the Others, Ben Linus (Michael Emerson), and Miles's colleague Charlotte, both sought after by Miles and his colleagues and taken prisoner by Locke. Sayid pays his respects to Naomi Dorrit, and takes her bracelet. He then offers to retrieve Charlotte without bloodshed, in return gaining a helicopter flight to the freighter anchored offshore. He takes along Miles and Kate. Sayid asks Jack not to come with them as he might be unpredictable around Locke.

The term generally refers to (a) resources, and the value of these resources, both tangible (public spaces, private property) and intangible ("actors", "human capital", people), (b) the relationships among these resources, and (c) the impact that these relationships have on the resources involved in each relationship, and on larger groups. It is generally seen as a form of capital that produces public goods for a common good.

Social capital has been used to explain improved performance of diverse groups, the growth of entrepreneurial firms, superior managerial performance, enhanced supply chain relations, the value derived from strategic alliances, and the evolution of communities.

Background

The term social capital was in intermittent use from about 1890, before becoming widely used in the late 1990s.

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1:04

What is a Developed Economy?

What is a Developed Economy?

What is a Developed Economy?

Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be skilled and educated workers who earn decent salaries.
The most well-known current examples of developed countries include the United States, Canada and most of western Europe, including England and France.
By Barry Norman, Investors Trading Academy

8:48

Why Some Countries Are Poor and Others Rich

Why Some Countries Are Poor and Others Rich

Why Some Countries Are Poor and Others Rich

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
Download our App: https://goo.gl/M53roP
We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/dKEM4i
Watch more films on CAPITALISM in our playlist:
http://bit.ly/2dmGWsp
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/H8FZVQ
SOCIAL MEDIA
Feel free to follow us at the links below:
Download our App: https://goo.gl/M53roP
Facebook: https://www.facebook.com/theschooloflifelondon/
Twitter: https://twitter.com/TheSchoolOfLife
Instagram: https://www.instagram.com/theschooloflifelondon/
CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk
Music by Kevin MacLeod
http://www.incompetech.com #TheSchoolOfLife

9:07

How to Make a Country Rich

How to Make a Country Rich

How to Make a Country Rich

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
Download of App: https://goo.gl/E9S7uW
FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look like that was ideally suited to success in modern capitalism?...”
You can read more on this and other topics on our blog TheBookofLife.org at this link: https://goo.gl/StpBHa
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/oeof2J
Watch more films on CAPITALISM in our playlist:
http://bit.ly/TSOLcapitalism
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/RK1kdE
SOCIAL MEDIA
Feel free to follow us at the links below:
Download of App: https://goo.gl/E9S7uW
Facebook: https://www.facebook.com/theschooloflifelondon/
Twitter: https://twitter.com/TheSchoolOfLife
Instagram: https://www.instagram.com/theschooloflifelondon/
CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk #TheSchoolOfLife

Difference between Develop and Underdeveloped Economies | Economic problems | Economic System | Mathur Sir Classes
#DifferencebetweenDevelopandUnderdevelopedEconomies #DevelopandUnderdevelopedEconomies #DevelopandUnderdevelopedEconomiesDifference
If you like this video and wish to support this EDUCATION channel, please contribute via,
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[Every contribution is helpful] Thanks & All the BestPlease SUBSCRIBE for more videos.
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difference between developed and underdeveloped economy,difference between developed and underdeveloped economy in hindi,developed and underdeveloped economy,developed and underdeveloped economy in hindi,underdeveloped economy in hindi,underdeveloped economy,characteristics of underdeveloped economy in hindi,main features of underdeveloped economy,india an underdeveloped economy,developed and underdeveloped economies difference,features of underdeveloped economy

10:21

Top 20 Fastest Growing Economies 2019 (Major Economies)

Top 20 Fastest Growing Economies 2019 (Major Economies)

Top 20 Fastest Growing Economies 2019 (Major Economies)

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2019 or gdp growth rate 2019) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2019 Reports and Projections
#fastestgrowingeconomy #growthrate2019 #majoreconomies

4:06

Future Top 10 Country Projected GDP Ranking (2018-2100)

Future Top 10 Country Projected GDP Ranking (2018-2100)

Future Top 10 Country Projected GDP Ranking (2018-2100)

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
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Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
DataTaken from: https://pardee.du.edu/
Subscribe here: https://www.youtube.com/wawamustats?sub_confirmation=1

5:53

Why Is America So Rich?

Why Is America So Rich?

Why Is America So Rich?

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
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Script:
The United States is the world’s most prosperous economy. It’s been that way for so long -- over a hundred years -- that we take it for granted.
But how did it happen?
There are many answers, of course. One is that the United States values the free market over government control of the economy.
But here’s a point that is seldom made:
It didn’t begin that way
Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed did the United States start to develop a world beating economy.
Let’s look at three telling examples:
In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.
Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action.
So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him.
But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year. Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.
A similar situation developed in the 1840’s around the telegraph.
The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.
Morse built his first telegraph wire between Washington, D.C. and Baltimore with the help of a government grant. Morse, more of an idealist than businessman, agreed to let the government own and operate the telegraph “in the national interest.”
But the government steadily lost money each month it operated the telegraph. During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise.
In the hands of entrepreneurs, the business took off. Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers and insurance companies saw how they could instantly monitor investments near and far. And dozens of other valuable uses were soon discovered.
As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852. By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean.
Why didn’t the US government profitably use what Morse had invented? Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.
For the complete script, visit https://www.prageru.com/videos/why-america-so-rich

24:11

Secrets behind Korea`s Economic Success (English)

Secrets behind Korea`s Economic Success (English)

Secrets behind Korea`s Economic Success (English)

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

2:26

Emerging economies | The Economist

Emerging economies | The Economist

Emerging economies | The Economist

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the developed economies and if you take proper account of differences in local prices.
This growing clout is most evident in the market for commodities. The emerging economies burned almost 55 percent of all the oil consumed last year their factories and building sites accounted for 65 percent of global copper consumption and three-quarters of the world's consumption of steel.
Their consumer power has also grown they bought over half the world's motor vehicles last year, including vans and lorries, and took out over three-quarters of new mobile phone subscriptions.
Developing countries were once self-reliant but poor. In recent decades, by contrast, cross-border trade and investment of soared in both directions. Last year they accounted for more than half of the world's exports and more than half of America's overseas sales.
Emerging economies have also become more resilient. They have amassed an enormous cushion of hard currency reserves. That insurance may have helped persuade foreigners to invest in their stock markets which have increased greatly in size despite many ups and downs along the way. The emerging economies cannot match the rich world on every measure. For example Japan Europe and America still have few rivals in the emerging world when it comes to public debt which averages 35% of GDP in emerging economies and over a hundred percent in the rich world.
The economic weight of the emerging world is profound but not unprecedented. In 1820 these countries accounted for about 70 percent of the world economy, before industrial revolutions in Europe and America left them far behind. Their recent progress is not then another revolution but rather a restoration.
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4:05

World's 10 Most Prosperous Countries

World's 10 Most Prosperous Countries

World's 10 Most Prosperous Countries

The top ten countries on the prosperity index, determined by rankings across nine key categories: Economic Quality, Natural Environment, Health, Social Capital, Personal Freedom, Safety and Security, Education, Governance, and BusinessEnvironment.
Study by the Legatum Institute:
http://www.prosperity.com/rankings?pinned=&filter=
Subscribe to TDC:
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Video by Bryce Plank and Robin WestMusic:
"Solar Flares" by Silent Partner (YouTube music library)
Script:
These are the top 10 most prosperous countries according to the Legatum Institute whose mission is to promote policies that lift people from poverty to prosperity. The study ranked countries across nine key metrics.
The 10th most prosperous nation is the United Kingdom. It’s strong business economy allowed it to crack the top 5 in that category. It was top 10 in economic quality, natural environment, and education—helped by its vocational training reform efforts that saw it climb from 14th in the world in 2007.
Ninth is Denmark which scores best on Safety and Security as thefts have dropped by 25% over the last decade. Air pollution has fallen by 63% over the same period, improving its Natural Environment ranking by 26 spots. To improve, Denmark should focus on its health system, which isn’t as strong as its Nordic neighbors.
Sweden comes in eighth. It’s 3rd-ranked economy is its best asset. Sweden actually ranked first in overall prosperity from 2010 to 2012, but it’s education and governance scores have slipped slightly since then. It’s still very prosperous and is the third least corrupt country in the whole world.
Seventh is the Netherlands. The Dutch are wealthy, healthy, educated, and served very well by their government. While its Natural Environment ranking is only 36th — the lowest score across any category for any country in this top ten — that’s actually up 37 spots from where it was in 2007.
Australia is sixth. It is the only country in the top 20 to record an absolute decline in prosperity since 2007. Its government has adopted protectionist trade policies that have driven down the quality and diversity of its economy. On the bright side, its Health Care ranking is on the upswing despite rising obesity levels.
In the same spot as last year is Canada at number 5. It is second-best on personal freedom, but its healthcare rank is hurt by rising obesity and diabetes rates. Canada is also top-ten in Governance, Social Capital, and Economic Prosperity.
Fourth is Switzerland, the country with the best education score. It is one of only two Western European countries to see its Economic Quality score improve over the last decade, as the rest of the continent was hit hard by the 2008 global financial crisis.
Finland is the third most prosperous nation. It is top-ranked in governance, second in Natural Environment, and third in Education. Surprisingly its Health score puts it at 21st in that category. The decline of its two main industries, timber and Nokia electronics, has led to a surge in unemployment.
Norway is second for the fourth straight year, a consistent performer across the board that doesn’t rank in the top two in any category, but also doesn’t fall below 13th anywhere either. 93% of Norwegians say they’re satisfied with living standards in the country.
And the most prosperous nation in the world is New Zealand for the fourth year in a row. It is best in Economic Quality thanks to free and open markets. There is clearly a synergistic effect between its top-ranked Social Capital score, its second-ranked Governance mark, and its high level of Personal Freedom.
On the flip side, these are the bottom 10 countries. The prolonged civil war in Syria would likely land it down here, but there hasn’t been enough accurately collected and reported data lately to rank it.
The US is ranked 17th. With the top-ranked business environment — but health and environment rankings down in the 30’s — we really need to get our priorities straight.
And these are the top ten countries for each category: Economic Quality; Business Environment; Governance; Education; Health; Safety and Security; Personal Freedom; Social Capital; and Natural Environment.
I hope this video shed light on the countries we should look to for ideas on creating more prosperity across our own societies.
Our recent examination of the top 10 recycling countries led some of you to express concern about PresidentTrump’s lack of respect for the environment, others were surprised that Japan didn’t make the list, while many of you agreed that Germany belonged in the top spot. Until next time, for TDC, I’m Bryce Plank, thanks for watching.

1:11

Carbon Sequestration in Developed Economies

Carbon Sequestration in Developed Economies

Carbon Sequestration in Developed Economies

Asia's Top 15 Fastest Growing Economies 2019

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
music: Elektronomia - Summersong 2018 [NCSRelease]
🔊 FreeDownload / Stream: http://ncs.io/SummersongID

What is a Developed Economy?

Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be ski...

published: 28 Jul 2015

Why Some Countries Are Poor and Others Rich

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
Download our App: https://goo.gl/M53roP
We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
MORE SCHOOL OF LIFE
Our website has classes, articles and pro...

published: 24 Nov 2014

How to Make a Country Rich

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
Download of App: https://goo.gl/E9S7uW
FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look lik...

Top 20 Fastest Growing Economies 2019 (Major Economies)

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs availabl...

published: 20 Jan 2019

Future Top 10 Country Projected GDP Ranking (2018-2100)

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
Twitter: https://twitter.com/wawamustats
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Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
DataTaken from: https://pardee.du.edu/
Subscribe here: https://www...

published: 02 Oct 2018

Why Is America So Rich?

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
Donate today to PragerU! http://l.prageru.com/2ylo1Yt
Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup
Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips.
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Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcem...

published: 26 Jan 2017

Secrets behind Korea`s Economic Success (English)

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

published: 12 Dec 2013

Emerging economies | The Economist

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the...

Carbon Sequestration in Developed Economies

Asia's Top 15 Fastest Growing Economies 2019

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
music: Elektronomia - Summersong 2018 [NCSRelease]
🔊 FreeDownload / Stream: http://ncs.io/SummersongID

Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be skilled and educated workers who earn decent salaries.
The most well-known current examples of developed countries include the United States, Canada and most of western Europe, including England and France.
By Barry Norman, Investors Trading Academy

Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be skilled and educated workers who earn decent salaries.
The most well-known current examples of developed countries include the United States, Canada and most of western Europe, including England and France.
By Barry Norman, Investors Trading Academy

Why Some Countries Are Poor and Others Rich

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural r...

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
Download our App: https://goo.gl/M53roP
We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/dKEM4i
Watch more films on CAPITALISM in our playlist:
http://bit.ly/2dmGWsp
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/H8FZVQ
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CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk
Music by Kevin MacLeod
http://www.incompetech.com #TheSchoolOfLife

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
Download our App: https://goo.gl/M53roP
We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/dKEM4i
Watch more films on CAPITALISM in our playlist:
http://bit.ly/2dmGWsp
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/H8FZVQ
SOCIAL MEDIA
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CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk
Music by Kevin MacLeod
http://www.incompetech.com #TheSchoolOfLife

How to Make a Country Rich

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and t...

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
Download of App: https://goo.gl/E9S7uW
FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look like that was ideally suited to success in modern capitalism?...”
You can read more on this and other topics on our blog TheBookofLife.org at this link: https://goo.gl/StpBHa
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/oeof2J
Watch more films on CAPITALISM in our playlist:
http://bit.ly/TSOLcapitalism
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/RK1kdE
SOCIAL MEDIA
Feel free to follow us at the links below:
Download of App: https://goo.gl/E9S7uW
Facebook: https://www.facebook.com/theschooloflifelondon/
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CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk #TheSchoolOfLife

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
Download of App: https://goo.gl/E9S7uW
FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look like that was ideally suited to success in modern capitalism?...”
You can read more on this and other topics on our blog TheBookofLife.org at this link: https://goo.gl/StpBHa
MORE SCHOOL OF LIFE
Our website has classes, articles and products to help you think and grow: https://goo.gl/oeof2J
Watch more films on CAPITALISM in our playlist:
http://bit.ly/TSOLcapitalism
Do you speak a different language to English? Did you know you can submit Subtitles on all of our videos on YouTube? For instructions how to do this click here: https://goo.gl/RK1kdE
SOCIAL MEDIA
Feel free to follow us at the links below:
Download of App: https://goo.gl/E9S7uW
Facebook: https://www.facebook.com/theschooloflifelondon/
Twitter: https://twitter.com/TheSchoolOfLife
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CREDITS
Produced in collaboration with:
Vale Productions
http://www.valeproductions.co.uk #TheSchoolOfLife

Top 20 Fastest Growing Economies 2019 (Major Economies)

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured...

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2019 or gdp growth rate 2019) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2019 Reports and Projections
#fastestgrowingeconomy #growthrate2019 #majoreconomies

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2019 or gdp growth rate 2019) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2019 Reports and Projections
#fastestgrowingeconomy #growthrate2019 #majoreconomies

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
Twitter: https://twitter.com/wawamustats
Facebook: https://fb.me/wawamustats
Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
DataTaken from: https://pardee.du.edu/
Subscribe here: https://www.youtube.com/wawamustats?sub_confirmation=1

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
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Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
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Why Is America So Rich?

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hi...

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
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Script:
The United States is the world’s most prosperous economy. It’s been that way for so long -- over a hundred years -- that we take it for granted.
But how did it happen?
There are many answers, of course. One is that the United States values the free market over government control of the economy.
But here’s a point that is seldom made:
It didn’t begin that way
Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed did the United States start to develop a world beating economy.
Let’s look at three telling examples:
In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.
Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action.
So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him.
But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year. Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.
A similar situation developed in the 1840’s around the telegraph.
The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.
Morse built his first telegraph wire between Washington, D.C. and Baltimore with the help of a government grant. Morse, more of an idealist than businessman, agreed to let the government own and operate the telegraph “in the national interest.”
But the government steadily lost money each month it operated the telegraph. During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise.
In the hands of entrepreneurs, the business took off. Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers and insurance companies saw how they could instantly monitor investments near and far. And dozens of other valuable uses were soon discovered.
As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852. By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean.
Why didn’t the US government profitably use what Morse had invented? Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.
For the complete script, visit https://www.prageru.com/videos/why-america-so-rich

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
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Script:
The United States is the world’s most prosperous economy. It’s been that way for so long -- over a hundred years -- that we take it for granted.
But how did it happen?
There are many answers, of course. One is that the United States values the free market over government control of the economy.
But here’s a point that is seldom made:
It didn’t begin that way
Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed did the United States start to develop a world beating economy.
Let’s look at three telling examples:
In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.
Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action.
So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him.
But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year. Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.
A similar situation developed in the 1840’s around the telegraph.
The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.
Morse built his first telegraph wire between Washington, D.C. and Baltimore with the help of a government grant. Morse, more of an idealist than businessman, agreed to let the government own and operate the telegraph “in the national interest.”
But the government steadily lost money each month it operated the telegraph. During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise.
In the hands of entrepreneurs, the business took off. Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers and insurance companies saw how they could instantly monitor investments near and far. And dozens of other valuable uses were soon discovered.
As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852. By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean.
Why didn’t the US government profitably use what Morse had invented? Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.
For the complete script, visit https://www.prageru.com/videos/why-america-so-rich

Secrets behind Korea`s Economic Success (English)

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic s...

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

Emerging economies | The Economist

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term ...

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the developed economies and if you take proper account of differences in local prices.
This growing clout is most evident in the market for commodities. The emerging economies burned almost 55 percent of all the oil consumed last year their factories and building sites accounted for 65 percent of global copper consumption and three-quarters of the world's consumption of steel.
Their consumer power has also grown they bought over half the world's motor vehicles last year, including vans and lorries, and took out over three-quarters of new mobile phone subscriptions.
Developing countries were once self-reliant but poor. In recent decades, by contrast, cross-border trade and investment of soared in both directions. Last year they accounted for more than half of the world's exports and more than half of America's overseas sales.
Emerging economies have also become more resilient. They have amassed an enormous cushion of hard currency reserves. That insurance may have helped persuade foreigners to invest in their stock markets which have increased greatly in size despite many ups and downs along the way. The emerging economies cannot match the rich world on every measure. For example Japan Europe and America still have few rivals in the emerging world when it comes to public debt which averages 35% of GDP in emerging economies and over a hundred percent in the rich world.
The economic weight of the emerging world is profound but not unprecedented. In 1820 these countries accounted for about 70 percent of the world economy, before industrial revolutions in Europe and America left them far behind. Their recent progress is not then another revolution but rather a restoration.
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The Economist videos give authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.

On many measures, the emerging economies now have more heft and reach than the developed ones
Subscribe NOW to The Economist: http://econ.st/1Fsu2Vj
The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the developed economies and if you take proper account of differences in local prices.
This growing clout is most evident in the market for commodities. The emerging economies burned almost 55 percent of all the oil consumed last year their factories and building sites accounted for 65 percent of global copper consumption and three-quarters of the world's consumption of steel.
Their consumer power has also grown they bought over half the world's motor vehicles last year, including vans and lorries, and took out over three-quarters of new mobile phone subscriptions.
Developing countries were once self-reliant but poor. In recent decades, by contrast, cross-border trade and investment of soared in both directions. Last year they accounted for more than half of the world's exports and more than half of America's overseas sales.
Emerging economies have also become more resilient. They have amassed an enormous cushion of hard currency reserves. That insurance may have helped persuade foreigners to invest in their stock markets which have increased greatly in size despite many ups and downs along the way. The emerging economies cannot match the rich world on every measure. For example Japan Europe and America still have few rivals in the emerging world when it comes to public debt which averages 35% of GDP in emerging economies and over a hundred percent in the rich world.
The economic weight of the emerging world is profound but not unprecedented. In 1820 these countries accounted for about 70 percent of the world economy, before industrial revolutions in Europe and America left them far behind. Their recent progress is not then another revolution but rather a restoration.
Get more The Economist
Follow us: https://twitter.com/TheEconomist
Like us: https://www.facebook.com/TheEconomist
View photos: https://instagram.com/theeconomist/
The Economist videos give authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.

The top ten countries on the prosperity index, determined by rankings across nine key categories: Economic Quality, Natural Environment, Health, Social Capital, Personal Freedom, Safety and Security, Education, Governance, and BusinessEnvironment.
Study by the Legatum Institute:
http://www.prosperity.com/rankings?pinned=&filter=
Subscribe to TDC:
https://www.youtube.com/TheDailyConversation/
Facebook: http://www.facebook.com/thedailyconversation
Video by Bryce Plank and Robin WestMusic:
"Solar Flares" by Silent Partner (YouTube music library)
Script:
These are the top 10 most prosperous countries according to the Legatum Institute whose mission is to promote policies that lift people from poverty to prosperity. The study ranked countries across nine key metrics.
The 10th most prosperous nation is the United Kingdom. It’s strong business economy allowed it to crack the top 5 in that category. It was top 10 in economic quality, natural environment, and education—helped by its vocational training reform efforts that saw it climb from 14th in the world in 2007.
Ninth is Denmark which scores best on Safety and Security as thefts have dropped by 25% over the last decade. Air pollution has fallen by 63% over the same period, improving its Natural Environment ranking by 26 spots. To improve, Denmark should focus on its health system, which isn’t as strong as its Nordic neighbors.
Sweden comes in eighth. It’s 3rd-ranked economy is its best asset. Sweden actually ranked first in overall prosperity from 2010 to 2012, but it’s education and governance scores have slipped slightly since then. It’s still very prosperous and is the third least corrupt country in the whole world.
Seventh is the Netherlands. The Dutch are wealthy, healthy, educated, and served very well by their government. While its Natural Environment ranking is only 36th — the lowest score across any category for any country in this top ten — that’s actually up 37 spots from where it was in 2007.
Australia is sixth. It is the only country in the top 20 to record an absolute decline in prosperity since 2007. Its government has adopted protectionist trade policies that have driven down the quality and diversity of its economy. On the bright side, its Health Care ranking is on the upswing despite rising obesity levels.
In the same spot as last year is Canada at number 5. It is second-best on personal freedom, but its healthcare rank is hurt by rising obesity and diabetes rates. Canada is also top-ten in Governance, Social Capital, and Economic Prosperity.
Fourth is Switzerland, the country with the best education score. It is one of only two Western European countries to see its Economic Quality score improve over the last decade, as the rest of the continent was hit hard by the 2008 global financial crisis.
Finland is the third most prosperous nation. It is top-ranked in governance, second in Natural Environment, and third in Education. Surprisingly its Health score puts it at 21st in that category. The decline of its two main industries, timber and Nokia electronics, has led to a surge in unemployment.
Norway is second for the fourth straight year, a consistent performer across the board that doesn’t rank in the top two in any category, but also doesn’t fall below 13th anywhere either. 93% of Norwegians say they’re satisfied with living standards in the country.
And the most prosperous nation in the world is New Zealand for the fourth year in a row. It is best in Economic Quality thanks to free and open markets. There is clearly a synergistic effect between its top-ranked Social Capital score, its second-ranked Governance mark, and its high level of Personal Freedom.
On the flip side, these are the bottom 10 countries. The prolonged civil war in Syria would likely land it down here, but there hasn’t been enough accurately collected and reported data lately to rank it.
The US is ranked 17th. With the top-ranked business environment — but health and environment rankings down in the 30’s — we really need to get our priorities straight.
And these are the top ten countries for each category: Economic Quality; Business Environment; Governance; Education; Health; Safety and Security; Personal Freedom; Social Capital; and Natural Environment.
I hope this video shed light on the countries we should look to for ideas on creating more prosperity across our own societies.
Our recent examination of the top 10 recycling countries led some of you to express concern about PresidentTrump’s lack of respect for the environment, others were surprised that Japan didn’t make the list, while many of you agreed that Germany belonged in the top spot. Until next time, for TDC, I’m Bryce Plank, thanks for watching.

The top ten countries on the prosperity index, determined by rankings across nine key categories: Economic Quality, Natural Environment, Health, Social Capital, Personal Freedom, Safety and Security, Education, Governance, and BusinessEnvironment.
Study by the Legatum Institute:
http://www.prosperity.com/rankings?pinned=&filter=
Subscribe to TDC:
https://www.youtube.com/TheDailyConversation/
Facebook: http://www.facebook.com/thedailyconversation
Video by Bryce Plank and Robin WestMusic:
"Solar Flares" by Silent Partner (YouTube music library)
Script:
These are the top 10 most prosperous countries according to the Legatum Institute whose mission is to promote policies that lift people from poverty to prosperity. The study ranked countries across nine key metrics.
The 10th most prosperous nation is the United Kingdom. It’s strong business economy allowed it to crack the top 5 in that category. It was top 10 in economic quality, natural environment, and education—helped by its vocational training reform efforts that saw it climb from 14th in the world in 2007.
Ninth is Denmark which scores best on Safety and Security as thefts have dropped by 25% over the last decade. Air pollution has fallen by 63% over the same period, improving its Natural Environment ranking by 26 spots. To improve, Denmark should focus on its health system, which isn’t as strong as its Nordic neighbors.
Sweden comes in eighth. It’s 3rd-ranked economy is its best asset. Sweden actually ranked first in overall prosperity from 2010 to 2012, but it’s education and governance scores have slipped slightly since then. It’s still very prosperous and is the third least corrupt country in the whole world.
Seventh is the Netherlands. The Dutch are wealthy, healthy, educated, and served very well by their government. While its Natural Environment ranking is only 36th — the lowest score across any category for any country in this top ten — that’s actually up 37 spots from where it was in 2007.
Australia is sixth. It is the only country in the top 20 to record an absolute decline in prosperity since 2007. Its government has adopted protectionist trade policies that have driven down the quality and diversity of its economy. On the bright side, its Health Care ranking is on the upswing despite rising obesity levels.
In the same spot as last year is Canada at number 5. It is second-best on personal freedom, but its healthcare rank is hurt by rising obesity and diabetes rates. Canada is also top-ten in Governance, Social Capital, and Economic Prosperity.
Fourth is Switzerland, the country with the best education score. It is one of only two Western European countries to see its Economic Quality score improve over the last decade, as the rest of the continent was hit hard by the 2008 global financial crisis.
Finland is the third most prosperous nation. It is top-ranked in governance, second in Natural Environment, and third in Education. Surprisingly its Health score puts it at 21st in that category. The decline of its two main industries, timber and Nokia electronics, has led to a surge in unemployment.
Norway is second for the fourth straight year, a consistent performer across the board that doesn’t rank in the top two in any category, but also doesn’t fall below 13th anywhere either. 93% of Norwegians say they’re satisfied with living standards in the country.
And the most prosperous nation in the world is New Zealand for the fourth year in a row. It is best in Economic Quality thanks to free and open markets. There is clearly a synergistic effect between its top-ranked Social Capital score, its second-ranked Governance mark, and its high level of Personal Freedom.
On the flip side, these are the bottom 10 countries. The prolonged civil war in Syria would likely land it down here, but there hasn’t been enough accurately collected and reported data lately to rank it.
The US is ranked 17th. With the top-ranked business environment — but health and environment rankings down in the 30’s — we really need to get our priorities straight.
And these are the top ten countries for each category: Economic Quality; Business Environment; Governance; Education; Health; Safety and Security; Personal Freedom; Social Capital; and Natural Environment.
I hope this video shed light on the countries we should look to for ideas on creating more prosperity across our own societies.
Our recent examination of the top 10 recycling countries led some of you to express concern about PresidentTrump’s lack of respect for the environment, others were surprised that Japan didn’t make the list, while many of you agreed that Germany belonged in the top spot. Until next time, for TDC, I’m Bryce Plank, thanks for watching.

Asia's Top 15 Fastest Growing Economies 2019

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp g...

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
music: Elektronomia - Summersong 2018 [NCSRelease]
🔊 FreeDownload / Stream: http://ncs.io/SummersongID

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
music: Elektronomia - Summersong 2018 [NCSRelease]
🔊 FreeDownload / Stream: http://ncs.io/SummersongID

What is a Developed Economy?

Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “DevelopedEconomy”
A developed economy defines a nation with a healthy per capita income and low birth rate. Its citizens enjoy a high standard of living, educational opportunities, and access to adequate health care. Also called an industrialized country, a developed economy is measured by a country’s gross domestic product, which typically is well diversified.
Most countries with a developed economy export goods worldwide. These regions’ banking, financial, and political systems typically remain stable and contribute to growth and productivity. People living in a developed economy generally live longer because of access to health care and proper nutrition. They tend to be skilled and educated workers who earn decent salaries.
The most well-known current examples of developed countries include the United States, Canada and most of western Europe, including England and France.
By Barry Norman, Investors Trading Academy

Why Some Countries Are Poor and Others Rich

The reason why some countries are rich and others poor depends on many things, including the quality of their institutions, the culture they have, the natural resources they find and what latitude they're on. For gifts and more from The School of Life, visit our online shop: https://goo.gl/dXpOl4
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We have, unusually, had to disable comments because of the number of people writing to tell us that we have forgotten about colonialism. We are very aware of colonialism but didn't, on this occasion, give this factor a central role.
FURTHER READING
You can read more on CAPITALISM, SELF, RELATIONSHIPS and many other topics on our blog TheBookofLife.org at this link: https://goo.gl/IG0HRZ
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CREDITS
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Music by Kevin MacLeod
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How to Make a Country Rich

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.gl/LSHb5a
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FURTHER READING
“Most of what we call ‘politics’ really revolves around the question of what you need to do to make a country richer.
Rather than ask this of any specific country, let’s imagine designing a country from scratch. How could you make it as rich as possible?
Suppose the brief was to design ‘Richland’: an ideal wealth-creating society. What would be the chief characteristics you’d need to build into this society? What would a nation look like that was ideally suited to success in modern capitalism?...”
You can read more on this and other topics on our blog TheBookofLife.org at this link: https://goo.gl/StpBHa
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Our website has classes, articles and products to help you think and grow: https://goo.gl/oeof2J
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CREDITS
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Top 20 Fastest Growing Economies 2019 (Major Economies)

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2019 or gdp growth rate 2019) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2019 Reports and Projections
#fastestgrowingeconomy #growthrate2019 #majoreconomies

Future Top 10 Country Projected GDP Ranking (2018-2100)

This video shows the Top 10 countries with highest GDP from 2018 to 2100. The projected GDP ranking includes countries such as United States, China, India, Japan, France, etc. It also shows how Asia will dominate the economy while Europe starts to fall slowly.
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.
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Historical Top 10 Country GDP Ranking (Part 1): https://youtu.be/wykaDgXoajc
DataTaken from: https://pardee.du.edu/
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Why Is America So Rich?

Why is America the world's richest nation? Is it mostly because of the government, or is it thanks to entrepreneurs and businessmen? HistorianBurt Folsom of Hillsdale College explains.
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Script:
The United States is the world’s most prosperous economy. It’s been that way for so long -- over a hundred years -- that we take it for granted.
But how did it happen?
There are many answers, of course. One is that the United States values the free market over government control of the economy.
But here’s a point that is seldom made:
It didn’t begin that way
Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed did the United States start to develop a world beating economy.
Let’s look at three telling examples:
In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.
Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action.
So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him.
But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year. Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.
A similar situation developed in the 1840’s around the telegraph.
The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.
Morse built his first telegraph wire between Washington, D.C. and Baltimore with the help of a government grant. Morse, more of an idealist than businessman, agreed to let the government own and operate the telegraph “in the national interest.”
But the government steadily lost money each month it operated the telegraph. During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise.
In the hands of entrepreneurs, the business took off. Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers and insurance companies saw how they could instantly monitor investments near and far. And dozens of other valuable uses were soon discovered.
As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852. By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean.
Why didn’t the US government profitably use what Morse had invented? Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.
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Secrets behind Korea`s Economic Success (English)

You may find the revised version of Secrets behind Korea`s Economic Success (2015) in the following link. The revised one includes updated and recent economic situations of Korea after 2010.
https://www.youtube.com/watch?v=IQARiOFLBCo
This documentary unveils secrets about how Korea, once the poorest country in the world, escaped poverty and grew to become the World's 14th largest economy and the first Asian nation to host the G20 summit, in 2010. The film identifies key factors behind Korea's economic success such as Korea's strategies, incessant efforts and investment that helped the nation achieve what the world came to call the "Miracle on the Han River."

Emerging economies | The Economist

On many measures, the emerging economies now have more heft and reach than the developed ones
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The term emerging markets was coined in the 1980s. It was intended as a more appealing way to describe fast-growing countries in what was then known as the third world.
But by the end of that decade these emerging economies were still small in comparison to developed economies such as Germany, Japan, and the United States.
Over the past 20 years, especially the last ten, the emerging economies have grown quickly accounting for a rising share of world output.
In 2008 they finally overtook the developed world accounting for more than half of the world economy if you include
countries like South Korea that have since joined the ranks of the developed economies and if you take proper account of differences in local prices.
This growing clout is most evident in the market for commodities. The emerging economies burned almost 55 percent of all the oil consumed last year their factories and building sites accounted for 65 percent of global copper consumption and three-quarters of the world's consumption of steel.
Their consumer power has also grown they bought over half the world's motor vehicles last year, including vans and lorries, and took out over three-quarters of new mobile phone subscriptions.
Developing countries were once self-reliant but poor. In recent decades, by contrast, cross-border trade and investment of soared in both directions. Last year they accounted for more than half of the world's exports and more than half of America's overseas sales.
Emerging economies have also become more resilient. They have amassed an enormous cushion of hard currency reserves. That insurance may have helped persuade foreigners to invest in their stock markets which have increased greatly in size despite many ups and downs along the way. The emerging economies cannot match the rich world on every measure. For example Japan Europe and America still have few rivals in the emerging world when it comes to public debt which averages 35% of GDP in emerging economies and over a hundred percent in the rich world.
The economic weight of the emerging world is profound but not unprecedented. In 1820 these countries accounted for about 70 percent of the world economy, before industrial revolutions in Europe and America left them far behind. Their recent progress is not then another revolution but rather a restoration.
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World's 10 Most Prosperous Countries

The top ten countries on the prosperity index, determined by rankings across nine key categories: Economic Quality, Natural Environment, Health, Social Capital, Personal Freedom, Safety and Security, Education, Governance, and BusinessEnvironment.
Study by the Legatum Institute:
http://www.prosperity.com/rankings?pinned=&filter=
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Script:
These are the top 10 most prosperous countries according to the Legatum Institute whose mission is to promote policies that lift people from poverty to prosperity. The study ranked countries across nine key metrics.
The 10th most prosperous nation is the United Kingdom. It’s strong business economy allowed it to crack the top 5 in that category. It was top 10 in economic quality, natural environment, and education—helped by its vocational training reform efforts that saw it climb from 14th in the world in 2007.
Ninth is Denmark which scores best on Safety and Security as thefts have dropped by 25% over the last decade. Air pollution has fallen by 63% over the same period, improving its Natural Environment ranking by 26 spots. To improve, Denmark should focus on its health system, which isn’t as strong as its Nordic neighbors.
Sweden comes in eighth. It’s 3rd-ranked economy is its best asset. Sweden actually ranked first in overall prosperity from 2010 to 2012, but it’s education and governance scores have slipped slightly since then. It’s still very prosperous and is the third least corrupt country in the whole world.
Seventh is the Netherlands. The Dutch are wealthy, healthy, educated, and served very well by their government. While its Natural Environment ranking is only 36th — the lowest score across any category for any country in this top ten — that’s actually up 37 spots from where it was in 2007.
Australia is sixth. It is the only country in the top 20 to record an absolute decline in prosperity since 2007. Its government has adopted protectionist trade policies that have driven down the quality and diversity of its economy. On the bright side, its Health Care ranking is on the upswing despite rising obesity levels.
In the same spot as last year is Canada at number 5. It is second-best on personal freedom, but its healthcare rank is hurt by rising obesity and diabetes rates. Canada is also top-ten in Governance, Social Capital, and Economic Prosperity.
Fourth is Switzerland, the country with the best education score. It is one of only two Western European countries to see its Economic Quality score improve over the last decade, as the rest of the continent was hit hard by the 2008 global financial crisis.
Finland is the third most prosperous nation. It is top-ranked in governance, second in Natural Environment, and third in Education. Surprisingly its Health score puts it at 21st in that category. The decline of its two main industries, timber and Nokia electronics, has led to a surge in unemployment.
Norway is second for the fourth straight year, a consistent performer across the board that doesn’t rank in the top two in any category, but also doesn’t fall below 13th anywhere either. 93% of Norwegians say they’re satisfied with living standards in the country.
And the most prosperous nation in the world is New Zealand for the fourth year in a row. It is best in Economic Quality thanks to free and open markets. There is clearly a synergistic effect between its top-ranked Social Capital score, its second-ranked Governance mark, and its high level of Personal Freedom.
On the flip side, these are the bottom 10 countries. The prolonged civil war in Syria would likely land it down here, but there hasn’t been enough accurately collected and reported data lately to rank it.
The US is ranked 17th. With the top-ranked business environment — but health and environment rankings down in the 30’s — we really need to get our priorities straight.
And these are the top ten countries for each category: Economic Quality; Business Environment; Governance; Education; Health; Safety and Security; Personal Freedom; Social Capital; and Natural Environment.
I hope this video shed light on the countries we should look to for ideas on creating more prosperity across our own societies.
Our recent examination of the top 10 recycling countries led some of you to express concern about PresidentTrump’s lack of respect for the environment, others were surprised that Japan didn’t make the list, while many of you agreed that Germany belonged in the top spot. Until next time, for TDC, I’m Bryce Plank, thanks for watching.

Asia's Top 15 Fastest Growing Economies 2019

Top 15 fastest growing economies in Asia.Indeed These are some of the most beautiful, developed and developing countries in Asia.Listing in terms of real gdp growth rate.
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